Aviva Investors completes £80m investment with social housing provider Cross Keys Homes
Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), announces it has completed an £80 million placement in Cross Keys Homes (‘CKH’), a social housing association based in Peterborough, Cambridgeshire.
The investment has been made on behalf of Aviva UK Life’s annuity business and means Aviva Investors has now invested almost £360 million in social housing providers across the UK in 2022.
CKH will use the funding to support its ongoing growth and development plans, including the building of its flagship scheme in Northminster, which will provide 315 affordable homes.
In October, the asset manager published a whitepaper on the ESG considerations of social housing, which highlighted the critical need to address the undersupply of social rent housing in the UK, the positive societal impacts that investment into the sector can have, and why investors considering an allocation to the asset class must pay close attention to the ESG implications.